COMPANY NEWS

COMPANY NEWS; CAMECO PURCHASES TWO URANIUM PRODUCER RIVALS

Published: April 18, 1998

The Cameco Corporation, the Saskatoon, Saskatchewan, uranium producer, said yesterday that it had bought two of its rivals in a $483 million (Canadian), or $337.1 million (United States), deal that would give it a wider panorama of uranium projects, stretching from Canada to Kazakhstan. Cameco purchased Uranerz Exploration and Mining Ltd. of Saskatoon, and the Denver-based Uranerz U.S.A. Inc. from their German parent company, Uranerzbergbau G.m.b.H. Uranerzbergbau is jointly owned by the German giants Preussag A.G. and Rheinbraun A.G., a subsidiary of RWE A.G.